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Beacon Roofing Report Shows Weakening Market

February 5, 2010 in Industry News

beaconroofingIn what may be a signal the stimulus and incentive packages have ran their course, Beacon Roofing missed profit expectations this past quarter and blamed lower sales on an overall weak market.

Overall sales for residential roofing products fell 26%, partially offset by above average sales last year after hurricane Ike.

Is this a signal to a further, longer term weakening in the roofing market? With recent tax incentives, many people who could afford to put on a new roof at the discounts rates did. Who is left? Spring storms and summer hurricanes are one ray of hope.

CertainTeed Agrees To $600 Million Settlement

January 1, 2010 in Industry News

CertainTeed announced Thursday they had decided to pay $600 million to settle a massive class action lawsuit launched against the company by consumers who purchased shingles under the names Custom Sealdon, Solid Slab, Master Slab, Custom Saf-T-Lok/Saf-T-Lok and Custom Lok 25, including the organic versions of Hallmark, Independence, Horizon, and Hearthstead.

The settlement will pay homeowners who were affected by easily damaged shingles.

About CertainTeed:
CertainTeed is a subsidiary of Saint-Gobain, one of the top 100 industrial companies in the world. Saint-Gobain, a French Corporation, employs approximately 22,000 people in North America and more that 206,000 people in 57 countries world-wide. Saint-Gobain’s North American companies operate nearly 200 manufacturing facilities in industries as diverse as industrial ceramics and containers, reinforcements and flat glass, abrasives, and building materials.